Eurozone finance chief plays down Greek fears
Monday 20 August 2012
Greece will not leave the eurozone unless the country "totally refuses" to fulfil any of its reform targets, one of Europe's most influential politicians said in advance of the latest Greek plea for leniency from its austerity programme.
Jean-Claude Juncker, right, who heads the Eurogroup collection of eurozone finance ministers and is also the Prime Minister of Luxembourg, expects Greece to step up its efforts to fulfil its reform targets.
"(An exit) will not happen, unless Greece were to violate all requirements and not to stick to any agreement," Mr Juncker said in an interview with an Austrian newspaper.
"In case of such total refusal by Greece with regards to budget consolidation and structural reform, one would have to look into the question."
Antonis Samaras, the Greek Prime Minister, is this week expected to propose a two-year extension to budget cuts that have been imposed by international lenders. On Friday, he meets the German Chancellor, Angela Merkel, whose voters are reluctant to help heavily-indebted Greece out further.
The talks come as the eurozone teeters on the edge of recession even as the dominant German economy continues to expand. Output across the 17-member currency bloc fell by 0.2 per cent in the second quarter of 2012. Separately, Greece reported last week that its GDP was a full 6.2 per cent smaller than the second quarter of 2011.
- 1 What happens to your body when you give up sugar?
- 2 Have sex with your iPad thanks to the new sex toy no-one asked for
- 3 The 'sex selfie stick' lets you FaceTime the inside of a vagina
- 4 Why you're almost certainly more like your father than your mother
- 5 Westboro Baptist Church couldn't picket Leonard Nimoy's funeral because they didn't know where it was
Durham Free School: 'Creationism taught at' free school facing closure
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
End of the licence fee: BBC to back radical overhaul of how it is funded
Nigel Farage promises Ukip will not 'stigmatise' would-be migrants – and says he wants 'everyone to speak the same language'
Ex-head of MI6: 'We shouldn't kid ourselves that Russia is on a path to democracy'
Most people think legal tax avoidance is just as wrong as illegal tax evasion, poll suggests
iJobs Money & Business
£8 per hour: Recruitment Genius: This Pension Specialist was established early...
£30 - 35k + Bonus & Benefits: Guru Careers: We are seeking an Executive Assist...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
Voluntary post, reasonable expenses reimbursed: Reach Volunteering: Would you ...